1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ValentinkaMS [17]
3 years ago
5

Southern Industries uses job order costing. The following information was drawn from the Company’s monthly accounting reports: J

ob 1 Job 2 Job 3 Direct Materials $ 50 $ 60 $ 30 Direct Labor 20 30 10 Southern applies overhead at the rate of 200% of direct labor costs. By the end of the month, both Job 1 and Job 2 had been completed and sold. Job 3 was still in process. At month-end, what was the balance in the Work in Process inventory?
Business
1 answer:
Vlad [161]3 years ago
8 0

Answer:

The balance in the Work in Process inventory at the month end is $60

Explanation:

Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.

For computing the Job 3 work in progress, the calculation part is shown below.

= Direct material + Direct labor + overhead expense

= $30 + $10 + 200% × 10

= $30 + $10 + $20

=$60

Hence, the balance in the Work in Process inventory at the month end is $60

You might be interested in
This type of interest is the most desirable.
Oksana_A [137]

Answer:

semiannually

Explanation:

3 0
3 years ago
You are out to eat with your friends.
kompoz [17]

Answer:

The top would be $15.72

Explanation:

$78.56 x .2 = 15.712

3 0
3 years ago
Read 2 more answers
Explain some of the reasons why developing countries have not realized a greater positive development impact from their higher e
Tju [1.3M]

Answer:

Specific country(Nigeria)

(1) High level of corruption in the Educational sector

(2) Inadequate funding

(3) Inconsistent public policy.

Why should solid elementary System take precedence over expansion of University.

(A) To reduce the level of illiteracy and out of school children.

(B) To build a good foundation for the younger Population.

Explanation:

Developing countries are countries that have not yet achieved their full potential,they are improving but still lack in several areas like Education, Infrastructures, funding, Unemployment etc

Nigeria is judged by the World bank, Transparency international as one of the most corrupt countries of the world this is affecting the utilisation of funds for education making it difficult to execute effective development projects in the Educational sector,in Nigeria successive Governments change education policies making it extremely difficult to achieve

greater positive development impact from their higher education programs.

Instead of expansion of the University System it is better to invest in the elementary school level to ensure that the level of illiteracy and out of school children is reduced or eliminated and to build a better future for the younger kids and Population.

3 0
3 years ago
In the event of death, this insurance covers the entrepreneur's business and helps family face the financial challenges.
allsm [11]

Answer:

a

Life

Explanation:

Life insurance is a contract where the insurance company undertakes to pay the amount stated in the policy document upon the insured's death. The insured, in turn, pays periodic insurance premiums to keep the contract in force.

Life insurance renders financial protection to the family and the insured upon their death. For an entrepreneur, the insurance company will compensate their family for the loss of income occasioned by their death.

8 0
3 years ago
According to the Fisher effect, if the "real" rate of interest in a country is 3 percent and the expected annual inflation is 8
Pachacha [2.7K]

Answer:

11.24%

Explanation:

Fisher equation:

(1 + nominal interest rate) = (1 + real interest rate) x (1 + expected annual inflation)

1 + nominal interest rate = 1.03 x 1.08

--> Nominal interest rate = 11.24%

3 0
3 years ago
Other questions:
  • Both firms in a Cournot duopoly would enjoy lower profits if:
    15·1 answer
  • Katie wants to order a new shirt online. What should she do once she gets to the store's website?
    15·1 answer
  • Mary is a new supervisor working with a preexisting staff that has resisted many of the new policies she has put into place. Mar
    5·1 answer
  • How to report nominal logistic regression in papers?
    8·1 answer
  • Who are angel investors? Give some characteristics and discuss their motivations, etc.
    12·1 answer
  • Sanborn Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100,000 for the year.
    5·1 answer
  • The following information is available for Lock-Tite Company, which produces special-order security products and uses a job orde
    14·1 answer
  • What's the catch with many services promoting a “free credit score?"
    6·1 answer
  • with the knowledge gained from your study of introduction to Total Quality Management, discuss two measures you would put in pla
    12·1 answer
  • When developing the advertising program, specifying the advertising objectives helps advertisers with other choices in the proce
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!